Moonshot Launches $50 Billion Pre-IPO Funding Round To Back Hong Kong Listing
Beijing artificial intelligence lab Moonshot, creator of the Kimi chatbot, has circulated a shareholder resolution to list shares on the Hong Kong stock exchange and will open a final pre-IPO funding round in August at a pre-money valuation of up to $50 billion.
The pricing values the company at roughly 167 times its $300 million in annual recurring revenue reported for June, a multiple that significantly exceeds the roughly 100 times seen in comparable listed peers. A prior $500 million financing round raised reserves past 10 billion yuan, more than the combined cash balances of two now-listed rivals held ahead of their own Hong Kong debuts.
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@poezhao0605Moonshot, the Beijing lab behind the Kimi chatbot, is opening a final pre-IPO round at up to $50bn pre-money, Bloomberg reported. Against the $300m of annual recurring revenue Bloomberg gave for June, that asks for roughly 167 times revenue
@poezhao0605In December, the founder of the Beijing startup behind the Kimi chatbot told staff the company was in no rush to go public. A $500m round had lifted its reserves past Rmb 10bn, about $1.4bn at the time, more than two now-listed rivals held
@poezhao0605Seven months later, Moonshot, the Beijing maker of the Kimi chatbot, has circulated a shareholder resolution seeking approval for a Hong Kong listing that could come within six months. It plans to open a final pre-IPO round in August at a